Under the European System of Central Banks, the Governing Council is similar in structure to the ________ of the Federal Reserve System
A) Board of Governors
B) Federal Open Market Committee
C) Federal Reserve Banks
D) Federal Advisory Council
B
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How are skilled and unskilled workers in an economy likely to be affected if firms adopt skill-biased technologies?
What will be an ideal response?
Shoe leather costs are
A) the costs in time and effort incurred by people and firms who are trying to minimize their holdings of cash because of inflation. B) the costs of changing prices, such as printing and mailing catalogues. C) the costs of the redistribution of wealth between lenders and borrowers. D) the costs associated with the confusion of prices as signals.
Incorporated firms first began appearing in the 1850s
Indicate whether the statement is true or false
Sometimes what we think is a collective consumption good only has those characteristics because of _____
a. high fixed costs. b. private production c. economies of scale d. government production